China national statistics
At the same time, by understating the depth of the slowdown in 20, the official figures also appear to understate last years improvement. The conference boards results suggest the current uptick is real. But the board worries that much of the growth has come from recent lending, despite Chinas already huge accumulation of debt in previous years. We think the recovery is real, said yuan gao, the senior economist in the beijing office of the conference board. Were just concerned that a lot of it is built on bad debt. Parsing the numbers, a long-running effort to adjust official Chinese figures for year-over-year quarterly. Growth suggests the economy goes through booms and busts much more than reported. Enodo figures, official Figures, diana Choyleva, an economist at Enodo Economics in London, also produces growth figures that are below the official results.
Tianjin, a sprawling metropolis, briefly posted on one of its official websites last week that previous data had been inflated. The post was quickly deleted. Ning kopen jizhe, the director of the national Bureau of Statistics, said at a news conference on Thursday afternoon in beijing that there had long been discrepancies between provincial and national data, but that the gap had been narrowing. Local data will not influence the reliability of national statistics data, he said. It can work the other way, too: Some economists cite evidence that China also understates its growth during booms to smooth its results. The conference boards estimates for Chinas economy show a more pronounced slowdown in growth than the official figures. Economists who try to estimate actual growth tend to come up with lower numbers. The conference board, a business group based in New York, takes Chinese data for agriculture, construction and easily counted services, like online transportation, as accurate. It then adjusts the official data for irregularities in industrial production and in less easily counted services, like health care. The result shows Chinese growth to be somewhat lower than reported, particularly in years with weak growth.
usual in the last several years. But Chinas quarterly growth figures are suspiciously smooth, unlike quarterly growth in many other countries. Politics are a major reason. Local officials often face pressure to meet targets from the central government. At the first hint of economic weakness, they have tended to step up spending to stabilize economic output. Increasingly, china is owning up to data shortcomings, particularly in provincial data. The region of Inner Mongolia revealed this month that two-fifths of the industrial production it reported for 2016 did not exist. A year ago, liaoning Province in northeastern China revealed that local governments had padded their economic growth statistics from 2011 to 2014.
China s Economic Growth looksoppakken
And outside experts crunching the data have come up with different — and usually weaker — results. What China reported, official figures show Chinas economic growth slowed steadily in recent years before a slight uptick in 2017. The national Bureau of Statistics announced on Thursday that the economy expanded.9 percent last year, up slightly from.7 percent in 2016 and breaking a trend of gradual slowing that began in 2011. For the fourth quarter, the bureau reported economic growth.8 percent over a year earlier. Strength in exports, retail sales and the property market has helped spur growth, putting China in a better position to tackle problems including a sharp climb in debt, severe pollution and other behandeling problems. But that growth has come at a high price: rising borrowing that has triggered downgrades of Chinas sovereign debt rating by credit rating agencies; severe pollution of Chinas air, water and soil; and persistent social problems associated with the movement of tens of millions. President xi jinping signaled at an important Communist Party meeting in October that he wanted to address some of these chronic problems and that the country should no longer emphasize maximizing economic growth at almost any cost.
National, bureau of, statistics of, china
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National, bureau of, statistics.)
Note: China considers taiwan its 23rd province, however, it remains a defacto independent country legal System: Based on a civil law system, which was derived from speedtest the soviet legal System. Chinas ccp party organs decolte exercise authority over judiciary.
National, statistics, republic of, china (Taiwan)
China facts: religion, formal name: peoples Republic of China (prc capital: beijing. Time difference: utc8 (note: despite its size, all of China falls within one time zone, although many in Xinjiang Province observe an unofficial Xinjiang timezone of utc6, two hours behind beijing) Population : 1,330,141,295 (July 2010 estimate: cia world Fact book. Last checked March 2011) for more population data median age, life expectancy, etc—see my China population: a demographic Time bomb article language: Official: Chinese (Mandarin, based on the beijing dialect) Other dialects and minority languages: yue (Cantonese wu (Shanghainese minbei (Fuzhou minnan (hokkien xiang, gan. Currency: yuan, also referred to as the renminbi (RMB) Monetary unit: 1 Renminbi (yuan) (Y) 10 jiao 100 fen; gdp (purchasing power parity us9.872 trillion (2010 est.) country comparison to the world: #2 (behind. S.) gdp, per capita (ppp us7,400 (2010 estimate, cia world Fact book) country comparison to the world: #127 for more, see facts about Chinas Economy business literacy percent: (age 15 can read and write) Total population:.6 Male:.7 Female:.6 (2007 estimate: cia world. The color red represents revolution and the large star symbolizes communism. The smaller stars symbolize the four social classes: the working class, the peasantry, the urban petty bourgeoisie, and the national bourgeoisie (capitalists) all united under the communist Party of China government type: Communist state head of State : President hu jintao (since march 15, 2003). Other national holidays: Spring Festival (the celebration of Chinese new year, late-january to mid-February depending on Lunar calendar International Labor day (may 1) see when to Travel to China for info on Golden weeks official holidays national anthem: yiyonggjun Jinxingqu (March of the volunteers) written. Administrative divisions: China is made up of 23 provinces, five autonomous regions, four municipalities directly under the central government, and the special administrative regions of Hong Kong and Macau.
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National, bureau of, statistics of, china, gHDx
Photo An apartment complex under egel construction on the outskirts of beijing. The costs of Chinas economic growth have included a city-centric policy that has uprooted of tens of millions of workers. Hong kong — the pace of growth in Chinas economy accelerated last year for the first time in seven years as exports, construction and consumer spending all climbed strongly. At least, thats what the government says. In reality, the pace of growth in Chinas economy is anybodys guess. Various signals suggest Chinas growth did speed up last year, which could give the government the room it needs to tackle an accumulation of serious financial, environmental and social problems this year. But measuring the size and health of the worlds second-largest economy can be difficult at best. Its official figures have become implausibly smooth and steady, even as other countries post results with plenty of peaks and valleys. Officials in far-flung regions are admitting their numbers are wrong.